Oil fell yesterday on word that the supply of heating oil was higher than expected..."but don't worry, it will be lower than expected at some point in the future."

Obviously these guys know the real deal, and are so embarrrassed they need to resort to telling the truth every once in a while just to remain sane.

T. Bone Pickens was on Squawk this morning. He said:

"This noise about the Saudia and the Iranians wanting a lower oil price is just ridiculous. They're in the oil business. The world is more than half way through the hydrocarbon era and oil production is in decline while demand is rising. We simply aren't in a position to produce enough oil to keep up with this level of demand. Price is the only thing that can curtail demand."

"This noise about the Saudia and the Iranians wanting a lower oil price is just ridiculous. They're in the oil business. The world is more than half way through the hydrocarbon era and oil production is in decline while demand is rising. We simply aren't in a position to produce enough oil to keep up with this level of demand. Price is the only thing that can curtail demand."

Yes, Saudi Arabia and Iran are in the oil business. But unlike the U.S. and Canada,they have very few other natural resources. Saudi, being mostly desert, has onlylimited agriculture, no forests, so much of their food and lumber must be imported.In that regard, Iran is in better shape. Saudi's also import a large labor force.

Consider that when the Saudi's can no longer pump oil, they will have literally noincome to sustain their people and not much else that I can see to replace it.Even now, their need for de-salinized water (intensive energy input) is great.I would think they would want to keep oil flowing as long as possible and at thehighest prices they can get. I see serious problems in that nation's future.

Good Morning Crew-..The Chinese rate hike is the first turn of the "thumb-screw"...what you gonna do, when they come for you. Window 5 minutes in till half past the hour and yippers we are going down...Helmets on, Lock n Load!

""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg

"This isn't a blame game," Snipes told The Miami Herald. "What we're concentrating on is getting the ballots to the voter." She was named to the job by Gov. Jeb Bush after the 2000 elections supervisor quit during the bitter presidential vote recount and her replacement was suspended for bungling.